Aramco Q2 Profit Soars 90% On Higher Oil Prices

Saudi Aramco reported a net profit of $48.4 billion for the second quarter of the year, a record figure and a 90-percent increase on the year thanks to stronger oil prices. For the first half of the year, the Saudi state energy major booked a profit of $87.9 billion, it said in its report. Free cash flow for the second quarter stood at $34.6 billion, and the figure for the first half of 2022 was $65.2 billion, Aramco also said. “While global market volatility and economic uncertainty remain, events during the first half of this year support…